Lolli: Get Cashback In Bitcoin

I usually only post information about bitcoin faucets.

Lolli isn’t a faucet, it’s a cashback site so the pay is much better, but there’s still no risk — best of both worlds.

I made well over $2K in bitcoin from Coinpot over the years. Now that Coinpot is closed, I’m on the lookout for a replacement and I’ve found several that I’ll be introducing you to over the next month or so.

The first one I’m going to introduce you to is Lolli.

What is Lolli?

Lolli is a cash back site. It makes money from sending you to their vendors (vendors you use anyway) and then they cut you a portion of what they make for sending you to the vendor’s website. They don’t tell you this, but this is how all cash back shopping sites work.

I’m a big fan of cashback sites, but cashback on bitcoin is even better!

How Much Can You Make?

I spend over $500/month on items not including food and shelter. Some offers on Lolli offer 30% cashback while others only offer 1%, so focus on the ones that offer more or the ones that take advantage of large spends.

On average, I could make 10%-15% bitcoin on my purchases every month, which is around $50 to $75 per month. Keep in mind, the price of bitcoin is highly volatile, so when the price drops, you pick up more bitcoin. In the world of investments we refer to this as dollar cost averaging — this is bitcoin cost averaging.

Now, $500 is an average month, but what about those times of the year (like birthdays or holidays) when you tend to spend a little more. Now, these heavy spending months can be countered by the fact that you can also make bitcoin.

How Practical Is Lolli?

Lolli has over 1,000 vendors in over a dozen different categories on its website (see below), so you can transfer all your to monthly purchases to Lolli.

And here’s an example of the vendors you can shop with:

For instance, I buy pet food every month. The purchase is ~$100. I don’t get anything back for making this purchase, but it’s convenient. With a little effort, I can set up a purchase from Chewy.com through Lolli. Chewy.com offers 4.5% bitcoin back, which is ~$4.50 in bitcoin per month. That’s easy bitcoin. And, with bitcoin being the fastest growing investment in the world, it won’t stay at $4.50 for long.

The potential is there.

What’s the process?

Well first you have to sign up here. We both get $10 when you sign up and make your first shop through Lolli. (For those of you who would like to send this to your friends, I give you full license to use this article as your own, but be sure to replace the links with your own rewards link before you send it out. You will find the affiliate link on the let side of the Lolli’s webpage when you sign up.)

You don’t need a bitcoin wallet to get started, which is one reason I like this site so much. It’s another great gateway into the bitcoin world because you only have to get your own wallet when you’re ready to withdrawal your funds out of Lolli (more on how to do this later).

After you’re signed up and ready to make a purchase from a store, click on the SHOP button next to the company you want to purchase from and wait for Lolli to give you the go ahead to make the purchase. The entire process takes a few seconds.

Now, here’s the part you really need to read: most cashback rewards are made within a few days, but some (like the ones associated with travel) can take as much as two months. This is the only drawback.

Now, for those of you who are really paying attention, the question is — if it takes 2 days to 2 months to receive the cash back, when is the bitcoin price locked in? I sent an email in to Lolli asking about this. This was their response:

Initially the reward is a USD amount that the retailer pays out to us for the referral of business. After it is confirmed and paid out though, we turn it into bitcoin and it is off to the races from there. This is why the btc amount for a new reward will fluctuate at first, until it is paid out we don’t know how much btc it will purchase. Once we have been paid by the retailer, it’s btc amount locks in and the USD market value of the reward is what fluctuates from there. Our CTO wrote an article about that. You can check it out here for more info on those timelines!

Translation: the bitcoin price locks in when Lolli gets paid by the vendor.

What is the withdrawal process?

Lolli does not allow you to make a withdrawal unless your account reaches at least $15 U.S. dollars. Once you reach the threshold, you should withdraw your coin to your own wallet outside of Lolli. This is the best article I’ve found on crypto wallets: https://blockgeeks.com/guides/cryptocurrency-wallet-guide/. It also recommends a few wallets and explains what your options are far better than I can.

I hold my coins at Cointiply (article on Cointiply) or Abra (Abra interest calculator).

Why?

Abra pays 4.5% daily compounded interest on bitcoin, while Cointiply pays 5%, but Cointiply also requires you to make at least 1 claim per week in their faucet and hold the equivalent of roughly $35 in bitcoin to get the interest. So, I recommend Abra, but both have their benefits.

Earn Bitcoin — The Fastest Growing Investment In The World

If you’re a follower, you know that I’m a big fan of bitcoin, a HODLer (I never sell). I see bitcoin as the currency of the future and I want others to realize the potential that this technology has as well. Part of that is exposing people to bitcoin and how bitcoin works without the risk of losing money. That’s what I love about sites like Lolli — they expose you to how bitcoin works (bitcoin wallets, etc) without having to risk your money.

Remember, bitcoin is a worldwide currency; it’s not specific to any one country. So as people all over the world begin investing more in bitcoin, the value of all the currencies in the world will converge and be consumed by the universal value of bitcoin. This is the reason I expect 1 bitcoin to be worth a great deal of money in the future.

Since it IS an emerging currency, I can understand why you’d be uber skeptical about investing in it, which is why earning bitcoin through faucets and cashback sites is a great way to get started.

Stay tuned for more ways to earn bitcoin!